Transactions Subject to Fund/SERV and Networking. (a) On each business day that the New York Stock Exchange is open for business and on which the Fund's Portfolios determine their per share net asset values ("Business Day"), Fund Agent shall accept, and effect changes in its records upon receipt of purchase, redemption, exchanges, and registration instructions from Insurance Company electronically through Fund/SERV ("Instructions"), without supporting documentation. (b) Each party hereby agrees to participate in NETWORKING with the other party pursuant to a mutually agreeable matrix or trust level established by the NSCC, in accordance with the terms and conditions of the Standard NETWORKING Agreement, as amended by this Supplement. In the event of any conflict between the terms of the Standard NETWORKING Agreement and the terms of this Supplement, the terms of this Supplement shall govern. (c) Fund Agent acknowledges that Insurance Company may engage one or more agents to fulfill some or all of Insurance Company's responsibilities hereunder and that said agent(s) shall be authorized to act on Insurance Company's behalf and shall be entitled to collect, receive and transmit information directly to and from Fund Agent on Insurance Company's behalf. As between the Fund Agent and Insurance Company, Insurance Company represents and warrants that such agents have appropriate agreements in place with Insurance Company and, if required, with the NSCC, to assume such delegated responsibilities.
Appears in 4 contracts
Samples: Fund Participation Agreement (Lincoln Life Flexible Premium Variable Life Account M), Fund Participation Agreement (Lincoln Life & Annuity Flexible Premium Variable Life Account M), Participation Agreement (Lincoln Life & Annuity Flexible Premium Variable Life Account M)
Transactions Subject to Fund/SERV and Networking. (a) On each business day that the New York Stock Exchange is open for business and on which the Fund's Portfolios Funds determine their per share net asset values ("Business Day"), Fund Agent shall accept, and effect changes in its records upon receipt of purchase, redemption, exchanges, and registration instructions from Insurance Company electronically through Fund/SERV ("Instructions"), without supporting documentation.
(b) Each party hereby agrees to participate in NETWORKING Networking with the other party pursuant to a mutually agreeable matrix or trust level established by the NSCC, in accordance with the terms and conditions of the Standard NETWORKING Networking Agreement, as amended by this Supplement. In the event of any conflict between the terms of the Standard NETWORKING Networking Agreement and the terms of this Supplement, the terms of this Supplement the Networking Agreement shall govern.
(c) Fund Agent acknowledges that Insurance Company may engage one or more agents to fulfill some or all of Insurance Company's responsibilities hereunder and that said agent(s) shall be authorized to act on Insurance Company's behalf and shall be entitled to collect, receive and transmit information directly to and from Fund Agent on Insurance Company's behalf. As between the Fund Agent and Insurance Company, Insurance Company represents and warrants that such agents have appropriate agreements in place with Insurance Company and, and if required, with the NSCC, to assume such delegated responsibilities.
Appears in 1 contract
Samples: Participation Agreement (Separate Account Va-K of Commonwealth Annuity & Life Insurance Co)
Transactions Subject to Fund/SERV and Networking. <Page>
(a) On each business day that the New York Stock Exchange is open for business and on which the Fund's Portfolios determine their per share net asset values ("Business Day"), Fund Agent shall accept, and effect changes in its records upon receipt of purchase, redemption, exchanges, and registration instructions from Insurance Company electronically through Fund/SERV ("Instructions"), without supporting documentation.
(b) Each party hereby agrees to participate in NETWORKING with the other party pursuant to a mutually agreeable matrix or trust level established by the NSCC, in accordance with the terms and conditions of the Standard NETWORKING Agreement, as amended by this Supplement. In the event of any conflict between the terms of the Standard NETWORKING Agreement and the terms of this Supplement, the terms of this Supplement shall govern.
(c) Fund Agent acknowledges that Insurance Company may engage one or more agents to fulfill some or all of Insurance Company's responsibilities hereunder and that said agent(s) shall be authorized to act on Insurance Company's behalf and shall be entitled to collect, receive and transmit information directly to and from Fund Agent on Insurance Company's behalf. As between the Fund Agent and Insurance Company, Insurance Company represents and warrants that such agents have appropriate agreements in place with Insurance Company and, if required, with the NSCC, to assume such delegated responsibilities.
Appears in 1 contract
Samples: Participation Agreement (Lincoln Life & Annuity Flexible Premium Variable Life Account M)